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Title of Transferee

The transferee is a member of the company only when the transfer of shares is registered by the company, that is, the transferor is deemed to be the legitimate holder of the shares until his name is removed by the company from the register of members. When the name of the transferee is canceled and the name of the transferee is entered in the register of members, the transferee gets full ownership of those shares. After his name is registered, a new share certificate is also issued to him, but the title of the transferee between the transferor and the transferee is completed at the same time when a contract is entered into between them.

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